Broker Check

Negotiating a Raise

So you’ve been at your job for a while now and feel you deserve a raise. How are you going to approach it? Too cocky, and your boss will think you’re entitled, but too timid and nothing will change. The question: where’s the compromise? The answer is simple: have CONFIDENCE. The first step to feeling confident in asking for a raise is to track your accomplishments. Note what you have done for the company, for example: whether you got the most contracts signed last year, or you came up with a brilliant marketing idea, it’s all important!

Know your WORTH. Compare your salary to others in the same position, within the same region, and with equal qualifications as you. For example, has a “know your worth” calculator, use it to have a reference for what others with your work experience & job description are getting paid. Along with this, get a sense for the position your company is in: is the company cutting costs, saving for a big expansion, or is revenue up and they’re hiring like crazy. All of these factors matter.

When speaking with your employer, it’s important to not: complain, be emotional, compare yourself to anyone else, or give an ultimatum. Stay positive and level headed. Sometimes a raise isn’t currently possible, even for the most deserving employees. If that’s the case, see if your employer can negotiate on other things, like vacation days, work from home days or other benefits. If you succeed in getting a raise – congratulations! If not, don’t despair. Continue keeping track of all your successes, and try again after a suitable period of time.

If you’ve had experience (good or bad!) in negotiating a raise – we’d love to hear your story! Add it to our community story page!

Glassdoor | Guide to How to Ask for a Raise

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Harvard Business Review | How to Ask for a Raise

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